The International Energy Agency (IEA) has evaluated the public reports of 20 mining companies of high economic interest on the rare earth geological resources needed for the energy transition, and despite observing improvements in investment, security and gender policies, there is no progress in environmental sustainability.

The agency has pointed out that greenhouse gas emissions remain “at a very high level”, the need for water has doubled and the waste generated by extraction reaches five gigatons today. The IEA notes that much of the mineral supply comes from “places with low environmental, social and governance scores”, so this industry cannot guarantee “net and responsible amounts”.

Thijs Van de Graaf, one of the authors of the report, pointed out that if it is followed as it now stands, the energy transition will entail “great risks”, both social, environmental and governance. As ApEA pointed out in 2021, if this level of development is to continue, rare earth exploitation should be increased seven times, nickel 19 times, cobalt 21 times and lithium 42 times. Continuing with this measure makes it impossible to implement renewable energies, according to the agency’s report.